Cousins Properties (CUZ) to Sell its Third Party Client Services Business to Cushman & Wakefield
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Price: $11.05 -0.27%
Overall Analyst Rating:
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Dividend Yield: 1.6%
Revenue Growth %: -100.0%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 1.6%
Revenue Growth %: -100.0%
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Cousins Properties Incorporated (NYSE: CUZ) has reached an agreement to sell its Third Party Client Services Business to Cushman & Wakefield.
The business unit, known as Client Services Group (CSG) provides third party services, including Leasing, Property Management, and Project Management, to owners of Class A office buildings in Atlanta and Dallas. Cousins Properties will continue to own and operate its fee business that is not associated with the Client Services Group.
Under the terms of the agreement, up to 128 professionals will transition from Cousins to Cushman & Wakefield, providing immediate enhanced capabilities for clients supported by Cushman & Wakefield’s Investor Services and Leasing groups in two key geographic areas. The transaction is expected to close by year end, subject to customary conditions and minimum third party consents.
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The business unit, known as Client Services Group (CSG) provides third party services, including Leasing, Property Management, and Project Management, to owners of Class A office buildings in Atlanta and Dallas. Cousins Properties will continue to own and operate its fee business that is not associated with the Client Services Group.
Under the terms of the agreement, up to 128 professionals will transition from Cousins to Cushman & Wakefield, providing immediate enhanced capabilities for clients supported by Cushman & Wakefield’s Investor Services and Leasing groups in two key geographic areas. The transaction is expected to close by year end, subject to customary conditions and minimum third party consents.
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